Mast-making the LN even cheaper
The lightning network is a work of art. It will change the way we use crypto in our lives. Billions of tps will change the world.
I have discussed in my posts on how segwit/segwit bech32 and batching will save blockspace so we can delay/ even avoid using
You can read about it here:
https://steemit.com/bitcoin/@sames/segwit-bech32-batching-others-will-lead-to-bitcoin-reaching-passing-ethereum-on-chain-tps-level
But the main scaling plan in bitcoin's "road map" is the LN.
This is a really good video explation: https://steemit.com/bitcoin/@ddangerwu/understanding-lightning-in-simple-terms-and-what-it-means-for-you-get-100sp-delegated-to-you
However the LN closes it transactions mainchain but there are ways to reduce the "weight" of LN closing channels.
## Here where Mast comes in!
Let's say you have a script address (P2SH) with multiple conditions on how funds can be spent like: if CONDITION1 or CONDITION2 or CONDITION3, where just one of them is necessary to spend the funds.
Before MAST, when you submit a transaction to the bitcoin network, you need to include the whole "redeem script" detailing all the conditions. The more branches/conditions there is in the script the more space it takes, so the more expensive the fee is.
With MAST, let's say if you spend funds only according to the rules of "CONDITION2", you only need to include the part of the script detailing that condition + a "proof" that the instructions of "CONDITION2" are included in the script hash (i.e. the address). As a result the transaction will take much less space than including the whole script.
An example of usage that would benefit from that is Lightning Network transactions, where the contracts have multiple conditions (oversimplified: spend IF specific hash provided OR if a specific time has elapsed...).
Superduper Over Simplified Explanation:
Imagine you have a 16 or 16 multisig (or any other form of P2SH). Instead of the script containing 16 signatures, it has one.
MAST reduces any sort of complex contract aka LN like that in the same way so as we get further and further into the 'smarts' direction the scaling improvements is going to get better and better.
Thank you reddit: https://www.reddit.com/r/Bitcoin/comments/8096e2/how_does_mast_scale_bitcoin/?st=je91s12a&sh=6dd4a2e8
Lessons on bitcoin made by me:
How segwit is actually a big block increase= https://steemit.com/bitcoin/@sames/how-segwit-is-actually-a-big-block-increase
Why big blocks are not the answer= https://steemit.com/bitcoin/@sames/why-big-blocks-are-not-the-answer
LN nodes are NOT banks or like banks= https://steemit.com/bitcoin/@sames/ln-nodes-are-not-banks-or-like-banks
What is the lightning network= https://steemit.com/bitcoin/@sames/bitcoin-s-lightning-network-simply-explained
What is Schoor signatures= https://steemit.com/bitcoin/@tipu/the-next-big-thing-in-bitcoin-network-schnorr-signatures or https://medium.com/@SDWouters/why-schnorr-signatures-will-help-solve-2-of-bitcoins-biggest-problems-today-9b7718e7861c
Bitcoin’s ethereum killer-rsk.co= https://steemit.com/bitcoin/@sames/bitcoin-s-ethereum-killer-rsk-co
Bitcoin newest scaling method adding bech32 plus others= https://steemit.com/bitcoin/@sames/bitcoin-newest-scaling-method-adding-bech32-plus-others
Batching : https://steemit.com/bitcoin/@sames/how-bitcoin-fees-will-get-cheaper-with-out-a-block-increase
Adding privacy to bitcoin with softforks or compatible software: https://steemit.com/privacy/@sames/making-bitcoin-have-fungibility-privacy-again
Transaction speed count using the new tech coming to bitcoin=
https://steemit.com/bitcoin/@sames/segwit-bech32-batching-others-will-lead-to-bitcoin-reaching-passing-ethereum-on-chain-tps-level
I will be writing about how bitcoin plans to become private. That right bitcoin is going to finally add privacy features that are actually really good. It an updated version of one of my old art ces but with official confirmations and new tech :)
What is MAST?
Edited it! Hope you can see it now :)
Thanks, I understand now 😁 good post 👍
I explained it the post but I'll edit it to make it easier to see :)
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Very interesting! I will have to look into this further.
That being said…
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